AlphaQuest LLC Has $1.02 Million Stock Holdings in Public Storage $PSA

Key Points

• AlphaQuest LLC significantly increased its holdings in Public Storage by 21,256.3%, owning 3,417 shares worth approximately $1,023,000 as of its latest SEC filing.
• Recent analyst ratings show a mix of targets for Public Storage, with price targets ranging from $320.00 to $380.00 and an average target of $335.43, reflecting a generally positive outlook on the stock.
• Public Storage reported earnings of $4.28 per share for the latest quarter, beating estimates by $0.05, with a revenue of $1.20 billion and a year-over-year growth of 2.4%.

AlphaQuest LLC boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 21,256.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,417 shares of the real estate investment trust's stock after purchasing an additional 3,401 shares during the period. AlphaQuest LLC's holdings in Public Storage were worth $1,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSA. Ameriflex Group Inc. purchased a new position in Public Storage in the fourth quarter valued at about $30,000. Spectrum Wealth Counsel LLC purchased a new position in Public Storage in the first quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new position in Public Storage in the first quarter valued at about $36,000. Parvin Asset Management LLC bought a new position in Public Storage during the 4th quarter worth approximately $38,000. Finally, Wayfinding Financial LLC bought a new position in Public Storage during the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of research analyst reports. Mizuho increased their target price on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a report on Wednesday, May 28th. BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $340.00 to $325.00 in a report on Friday, June 20th. BNP Paribas Exane initiated coverage on Public Storage in a report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 target price on the stock. Royal Bank Of Canada reduced their target price on Public Storage from $328.00 to $309.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Finally, Wells Fargo & Company reduced their target price on Public Storage from $330.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $335.43.

Public Storage Stock Performance

PSA traded down $0.79 during trading hours on Tuesday, hitting $289.05. The company's stock had a trading volume of 760,164 shares, compared to its average volume of 776,412. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $50.71 billion, a PE ratio of 31.52, a PEG ratio of 4.81 and a beta of 0.86. The company has a 50-day simple moving average of $287.57 and a 200 day simple moving average of $294.30.

Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the firm earned $4.23 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, sell-side analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.2%. Public Storage's dividend payout ratio (DPR) is presently 130.86%.

Public Storage Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.